It has posted a gross profit of Rs 2.43 crore and a net profit of Rs 0.48 crore. For the same period in the last year the gross profit stood at Rs 2.05 crore and net profit is at Rs 0.96 crore.

Its subsidiary, Padmini Steel Corporation is expected to commence trial runs by July this year.

Once it goes into commercial production the unit will produce about one lakh tones of value added re-rolled steel products, said a release from the company. Tutucorin power project, in which SSL hold 26 per cent while Tracteble SA, Belgium holds 74 per cent, is fast approaching the construction phase. The project require few more clearance for achieving financial closure, said the release.